Argentina Cancer Diagnostics Market Size & Outlook
Argentina cancer diagnostics market, 2018-2030 (US$M)
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Argentina cancer diagnostics market highlights
- The Argentina cancer diagnostics market generated a revenue of USD 1,140.5 million in 2023 and is expected to reach USD 1,759.2 million by 2030.
- The Argentina market is expected to grow at a CAGR of 6.4% from 2024 to 2030.
- In terms of segment, consumables was the largest revenue generating product in 2023.
- Consumables is the most lucrative product segment registering the fastest growth during the forecast period.
Cancer diagnostics market data book summary
| Market revenue in 2023 | USD 1,140.5 million |
| Market revenue in 2030 | USD 1,759.2 million |
| Growth rate | 6.4% (CAGR from 2023 to 2030) |
| Largest segment | Consumables |
| Fastest growing segment | Consumables |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Services, Instruments, Consumables |
| Key market players worldwide | Abbott Laboratories, Roche Holding AG, GE HealthCare Technologies Inc Common Stock, Qiagen NV, Becton Dickinson & Co, Koninklijke Philips NV, Siemens Healthineers AG ADR, Hologic Inc, Thermo Fisher Scientific Inc, Illumina Inc |
Other key industry trends
- In terms of revenue, Argentina accounted for 1.1% of the global cancer diagnostics market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil cancer diagnostics market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in Latin America and is projected to reach USD 3,107.1 million by 2030.
Consumables was the largest segment with a revenue share of 59.95% in 2023. Horizon Databook has segmented the Argentina cancer diagnostics market based on services, instruments, consumables covering the revenue growth of each sub-segment from 2018 to 2030.
Constant developments by market players, such as geographic expansion and new product launches, have contributed to Argentina’s market growth. For instance, Amoy Diagnostics Co., Ltd. entered into a collaboration agreement with Merck KGaA to bring liquid biopsy RAS biomarker tests to Argentina, Mexico, India, and Brazil.
Initially, the test would be made available for research use, only until it gets regulatory authorization from respective countries. In addition, the country has a higher burden of cancer, which is propelling the demand for the adoption of cancer screening tests.
Moreover, Latin America has observed a steady rise in the number of oncologists, especially in Brazil and Argentina, as well as awareness of the region's long-standing scarcity of cancer specialists. A regional hub for Latin America has been established at the National Cancer Institute of Argentina (Instituto Nacional del Cáncer de Argentina) in Buenos Aires to enhance and promote activities under the initiative in the region. However, socioeconomic barriers are high in the country, along with limited healthcare facilities that can provide these tests, thus increasing the turnaround time required due to the export of samples to central laboratories in other countries.
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Cancer Diagnostics Market Scope
Cancer Diagnostics Market Companies
| Name | Profile | # Employees | HQ | Website |
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Argentina cancer diagnostics market size, by product, 2018-2030 (US$M)
Argentina Cancer Diagnostics Market Outlook Share, 2023 & 2030 (US$M)
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